Norwegian Air Shuttle ASA (OSL:NAS)

Norwegian Air Shuttle ASA Financials Overview

Financials in millions NOK. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	38,594	37,646	35,316	25,539	18,869	5,068
Revenue Growth	3.21%	6.60%	38.28%	35.35%	272.34%	-44.28%
Gross Profit Gross Profit Growth	6,895	7,906	6,540	5,142	1,657	-1,892
Operating Income Operating Income Growth	1,666	3,323	2,166	2,268	-604.3	-3,518
Net Income Net Income Growth	906	2,646	1,213	1,611	919.6	1,839
Earnings Per Share EPS Growth	0.86	2.49	1.20	1.54	0.89	2.68
EPS Growth	-61.99%	107.40%	-22.01%	72.56%	-66.66%	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024
Norwegian Norwegian Growth	30,876	30,092	28,344
Widerøe Widerøe Growth	8,065	7,903	7,241
Elimination Elimination Growth	-	-349	-269
Total Total Growth	38,592	37,646	35,316

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	11,259	10,059	10,880	9,478	7,759	7,695
Total Debt Total Debt Growth	17,320	19,551	16,078	14,025	10,085	9,377
Net Cash (Debt) Net Cash Growth	-6,061	-9,492	-5,198	-4,548	-2,326	-1,683
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-5.76	-8.74	-4.61	-4.04	-2.07	-2.41

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	8,272	7,840	6,946	5,258	2,426	139.1
Capital Expenditures CapEx Growth	-3,304	-5,410	-1,232	-502.9	-854.6	-6.1
Free Cash Flow Free Cash Flow Growth	4,968	2,430	5,714	4,755	1,571	133
Free Cash Flow Growth	75.86%	-57.47%	20.18%	202.63%	1081.28%	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	17.87%	21.00%	18.52%	20.14%	8.78%	-37.32%
Operating Margin	4.32%	8.83%	6.13%	8.88%	-3.20%	-69.43%
Pretax Margin	2.92%	8.01%	3.84%	7.06%	5.55%	37.02%
Profit Margin	2.35%	7.03%	3.44%	6.31%	4.87%	36.28%
FCF Margin	12.87%	6.46%	16.18%	18.62%	8.33%	2.62%

Dividends

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Fiscal Year	Current	FY 2025
Period Ending	Nov 15, 2026	Dec 31, 2025
Dividend Per Share Dividend Per Share Growth	1.600	1.700
Dividend Per Share Growth	0%	-
Dividend Yield	11.91%	9.77%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 15, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	15.60	6.94	8.74	6.40	7.43	5.43
Forward PE	17.18	8.52	6.60	11.85	20.82	12.07
P/FCF Ratio	2.85	7.56	1.86	2.17	4.35	75.05
PS Ratio	0.37	0.49	0.30	0.40	0.36	1.97

Data Source: S&P Global Market Intelligence Last updated: Oct 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 13, 2026

Data Sources Report a data error